Telltale Reportedly Liquidating Assets, Removing Games from Steam
After a tumultuous couple of months for Telltale Games, the studio is reportedly closing, with another company in charge of liquidating Telltale's assets.
Game studio Telltale Games has been essentially all but completely gone for over a month, but a report tells that the developer is liquidating and shuttering completely. A firm by the name of Sherwood Partners is said to be in charge of liquidating the company.
As GameDaily reports, what remains left for the company is assignment proceedings, a process that is similar to filing for bankruptcy. Basically what this does is allow for creditors and shareholders and anyone with a claim against the studio’s assets come forward up to a certain date. What this also means for former employees is that their health agreements will end by the end of this month, after their company-supported coverage ended after the initial mass layoffs.
The massive layoffs that let go a majority of the studio were well-publicized in September, halting all projects including The Walking Dead: The Final Season and a Stranger Things game. Both will still see life in one form or another, the former through Skybound and the latter through a different company of Netflix’s choosing, though the project will probably be completely different from Telltale’s. By the beginning of October, the remaining employees of Telltale were laid off.
Former employees of Telltale have filed a class-action lawsuit against the company.
One signal of these end times for the company is the removal of some of Telltale’s games from online marketplaces. The Walking Dead: The Final Season was temporarily removed from online stores, but users on a ResetEra thread point out that several other licensed titles from Telltale, including Jurassic Park: The Game, Tales of Monkey Island, and Back to the Future: The Game are no longer on Steam.
Per GameDaily, Telltale has not officially responded to any of these reports.